Midwest

Morgan/Harbour Completes 19,640 SF Office Renovation for Riddell in Des Plaines, Illinois

by Kristin Harlow June 29, 2018

DES PLAINES, ILL. — Morgan/Harbour Construction has completed an office and lab space renovation for Riddell Sports in Des Plaines, a suburb of Chicago. Riddell is a manufacturer of football helmets, pads and other football-related equipment. The scope of the project included a 19,640-square-foot interior office build-out on the fifth floor, including 3,325 square feet of testing laboratory space. New partitions, doors and ceilings as well as upgraded finishes and new furnishings were part of the renovation. Partners by Design provided architectural services. CBRE is the property manager. Riddell moved its corporate headquarters from Rosemont to 1700 Higgins Centre in Des Plaines.

June 29, 2018

Acquisitions Indiana Midwest Retail

Cooper Group Arranges $5M Sale of 12,408 SF Retail Property in Warsaw, Indiana

by Kristin Harlow June 29, 2018

WARSAW, IND. — The Cooper Commercial Investment Group has arranged the $5 million sale of Lake City Plaza in Warsaw, about 40 miles west of Fort Wayne. The 12,408-square-foot retail property is fully leased. Tenants include Starbucks, Verizon Wireless, Moe’s Southwest Grill and McAlister’s, all of which are on 10-year leases. The new property is located directly in front of a Meijer superstore. Dan Cooper of Cooper Group represented the seller, an Indiana-based private investor. An Ohio-based group purchased the asset.

June 29, 2018

Loans Midwest Multifamily Ohio

NorthMarq Arranges $31M Construction Financing for Apartment Property in Cincinnati

by Kristin Harlow June 28, 2018

CINCINNATI — NorthMarq Capital has arranged $31 million in construction financing for Encore Apartments at 716 Sycamore St. in Cincinnati. The 133-unit apartment property, which is now in the lease-up phase, features amenities such as a pool, observation lounge, outdoor kitchen, pet spa, clubroom and fitness center. Construction completed in 2017. Susan Branscome of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan on behalf of the undisclosed borrower.

June 28, 2018

Development Illinois Midwest Restaurant Retail

Craft Brewery to Anchor New Mixed-Use Development in Chicago

by Kristin Harlow June 28, 2018

CHICAGO — Craft brewery 5 Rabbit Cerveceria has signed a 12,000-square-foot lease to be the first retail tenant at Mural Park in Chicago’s Pilsen neighborhood. The Latin American-inspired brewery will anchor the property and occupy 5,000 square feet on the ground floor and 7,000 square feet in the basement for its brewing operation. The brewery is slated to open in early 2019. Jose Gonzalez and Joaquin Manriquez of JLL represented the landlord, Condor Partners, in the lease transaction. Mural Park is an office and retail redevelopment of two 100,000-square-foot loft buildings. The development is the starting point for El Paseo, a four-mile trails project that will connect Pilsen, Little Village and University Village.

June 28, 2018

Development Midwest Office Ohio

Chard Snyder Opens New Corporate Headquarters in Mason, Ohio

by Kristin Harlow June 28, 2018

MASON, OHIO — Chard Snyder, a third-party administrator of employee benefit solutions and wholly owned subsidiary of Ascensus, has opened its new corporate headquarters in Mason, about 25 miles north of Cincinnati. The 53,000-square-foot office property, located at 6867 Cintas Blvd., will house the company’s 170 team members with room to accommodate growth. Chard Snyder previously occupied space in Deerfield Township. Ascensus is a technology-enabled retirement, education and healthcare solutions provider. Al. Neyer was the general contractor.

June 28, 2018

Illinois Industrial Loans Midwest

Associated Bank Provides $13M Construction Loan for Speculative Industrial Building in Winfield, Illinois

by Kristin Harlow June 28, 2018

WINFIELD, ILL. — Associated Bank has provided a $13 million loan for the construction of a 265,550-square-foot speculative industrial building in Winfield, about 35 miles west of Chicago. The property, named North Avenue Commerce Center, is located along St. Charles Road. Construction is slated for completion by the end of this year. Conor Commercial Real Estate, the real estate development and investment arm of The McShane Companies, was the borrower.

June 28, 2018

Development Midwest Missouri Retail

Ross to Open at Belton Gateway Shopping Center in Missouri

by Kristin Harlow June 28, 2018

BELTON, MO. — Ross Dress for Less is opening a new store at Belton Gateway in Belton, approximately 21 miles south of Kansas City, on July 21. The store will span 22,000 square feet at the shopping center, which is located near I-49. With this new opening, Ross will operate 25 stores in Missouri and a total of 1,435 locations.

June 28, 2018

Iowa Market Reports Midwest Midwest Market Reports Retail

Outlets of Des Moines Fills a Retail Void in the Metro Area

by Kristin Harlow June 28, 2018

Outlets of Des Moines brings some of the best brand names in retail to the Des Moines metropolitan area, one of the strongest economies in the country. Retailers include such favorites as American Eagle, Asics, Bath & Body Works, Brooks Brothers, Converse, Express Factory Outlet, francesca’s, Le Creuset, Levi’s, LOFT Outlet, Lucky Brand Jeans, Michael Kors, Nike Factory Store, Skechers, Tommy Hilfiger, Vera Bradley and Under Armour. Since Outlets of Des Moines opened in October 2017, hundreds of thousands of local and regional residents have visited the Des Moines region’s newest shopping destination. Located at an established area for entertainment and shopping, the site is easily accessible to the residential trade area of nearly 1 million. With no major outlet center located within 80 miles, the 300,000-square-foot property fills a void in this populous market. New England Development’s newest shopping destination, Outlets of Des Moines has an unparalleled location in this major metropolitan market. Some features include: • Six miles from downtown Des Moines, the capital of Iowa and the most populous city in the state • At the intersection of I-80 and US-65 in Altoona, an established destination for entertainment and shopping • Located at the same exit as …

June 28, 2018

Development Illinois Midwest Multifamily

CRG Nears Completion of 132-Unit Apartment Building in Chicago

by Kristin Harlow June 27, 2018

CHICAGO — CRG, Clayco’s private real estate development firm, is nearing completion of A.M. 1980, a 132-unit apartment building in Chicago’s Bucktown neighborhood. Located at 1980 N. Milwaukee Ave., the project spans 110,000 square feet. A.M. 1980, which is named for its address at the intersection of Armitage and Milwaukee avenues, features studio, one- and two-bedroom units. Amenities include a fitness center, coffee bar, package storage, dog run, rooftop deck and 6,000 square feet of retail space. Monthly rents start at $1,500 for studios. Construction began in the summer of 2017. Clayco is the design-builder and its subsidiary, BatesForum, is the architect. Residents are expected to begin moving in later this summer.

June 27, 2018

Development Hospitality Midwest Wisconsin

Janko Hospitality Opens Hyatt Place Hotel in Milwaukee’s Brewery District

by Kristin Harlow June 27, 2018

MILWAUKEE — Janko Hospitality has opened a new Hyatt Place hotel at The Brewery District in Milwaukee. The 150-room, six-story hotel is located one block away from the new Milwaukee Bucks arena. The Brewery District is situated on the former home of the Pabst Brewing Complex. The select-service hotel boasts more than 1,700 square feet of meeting space and a fitness center. This is the first Milwaukee hotel to be operated by Janko Hospitality, which manages other select and full-service properties throughout the Midwest.

June 27, 2018

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